Removal from the Australian Securities Exchange...
Immediate Release 29 October 2009
Centamin Egypt Limited ("Centamin" or "the Company")
(TSX:CEE, ASX:CNT, AIM:CEY)
REMOVAL FROM THE AUSTRALIAN SECURITIES EXCHANGE OFFICIAL LIST
Centamin Egypt Limited announces that it has applied to the Australian Securities Exchange Ltd
("ASX") and been given approval under Listing Rule 17.11 for the Company to be removed from the
ASX official list.
The Company is currently listed on three stock exchanges - the ASX, the Toronto Stock Exchange
("TSX") and the AIM Market of the London Stock Exchange ("AIM"). As announced on 04 August
2009, the Company has applied to the UK Listing Authority ("UKLA") to move from the AIM market
to the Official List of the UKLA (the "Official List") and to trading on the London Stock
Exchange's Main Market for listed securities ("Main Market"). It is expected that the Company's
ordinary shares will be admitted to the Official List and to trading on the Main Market and
simultaneously cancelled from trading on AIM on or around 05 November 2009, subject to the
receipt of the necessary approvals from the UKLA and the London Stock Exchange ("LSE").
Following due consideration and in an effort to streamline listing and compliance costs, the
Board believes it is in the best interests of the Company and all of its Shareholders that
Centamin be removed from the ASX official list for the following reasons:-
* the relatively low level of liquidity in trading in the Company's shares on ASX compared
to the AIM and TSX (of all of the shares traded from 01 October 2008 to 30 September 2009, only
2.2% were traded through the ASX, hence creating disproportionately high costs); and
* the Australian register accounts for less than 15% of the share capital of the Company
(or less than 8% if you exclude the Directors' holdings on the Australian register).
The ASX has advised Centamin that it will be removed from the ASX official list if it complies
with the following conditions:-
* Release of this announcement to the market;
* Provision of a facility for Australian Shareholders to sell their Centamin shares on the
LSE and/or TSX through an ASX participating organisation for a period of not less than three
months after the removal of Centamin from the ASX official list; and
* Provision of a letter to shareholders on Centamin's Australian share register
("Australian Shareholders") informing them of Centamin's intention to seek removal from the
official list and of a facility for Australian Shareholders to sell their Centamin shares on the
AIM/LSE or TSX.
Centamin will comply with all these conditions and will therefore be removed from the ASX
official list on 29 January 2010, which is three months after the date of this announcement.
Prior to 29 January 2010, trading in Centamin shares will continue on an uninterrupted basis on
the ASX, AIM/LSE and TSX. From 29 January 2010, Centamin shares will be quoted on the LSE and
TSX only.
Following delisting, Australian Shareholders will have their electronic holdings on the ASX
register converted to certificated holdings on the Australian register (which will continue to
be maintained on Centamin's behalf by Computershare). This process will occur automatically and
no action will be required by an Australian Shareholder. Australian Shareholders will then be
issued with a share certificate representing their holding. This share certificate should be
kept in a safe place as it is evidence of the shareholding.
To assist Australian Shareholders who may want to transact Centamin shares on LSE or the TSX
following Centamin's removal from the ASX official list, Centamin has entered into an agreement
with Southern Cross Securities Limited, which has agreed to facilitate trading in Centamin
shares for a period of 3 months following the delisting. Shareholders can contact either David
Keogh or Les Blake at Southern Cross Securities on + 61 2 8224 2887.
Alternatively, the Depositary Interest ('"DI") facility in the UK allows UK brokers to trade
Centamin shares in the usual way. UK domiciled holders are advised to contact their UK broker
to arrange the transfer of their shares. Canadian domiciled holders can arrange for their
shares to be transferred to the Canadian Register by completing an Australia to Canada removal
request form and submitting it to Computershare/their local broker along with their share
certificate/SRN number. The shares can be deposited directly with a Canadian Participant at the
Canadian Depository for Securities ("CDS") or the request can be to issue a Canadian share
certificate.
A letter will be sent to the Australian Shareholders today, advising them of Centamin's
application for removal from the ASX official list and including details of the facilities for
trading Centamin shares on the LSE and TSX.
For Centamin Egypt Limited
Josef El-Raghy
Managing Director/CEO
29 October 2009
CENTAMIN EGYPT LIMITED
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